Misprinted Rs1000 notes emerge in National Bank
- By Web Desk -
- Mar 12, 2024
A branch of National Bank of Pakistan (NBP) in Karachi received misprinted currency notes of Rs1000 denomination issued by the State Bank of Pakistan (SBP), raising concerns over the alleged negligence, ARY News reported on Tuesday.
In a purported video, a manager of National Bank branch in Karachi showed the ‘one-side blank’ currency of Rs1000 denomination issued by the State Bank of Pakistan (SBP).
“The cash that arrived this morning has bundles of misprinted Rs1000 notes,” the bank manager can be heard saying in the video.
“One side of the notes are printed and the other is completely blank,” he said, expressing ignorance over the circulation of such bills.
The matter came to light when a customer returned such misprinted currency notes to the bank staff. Later, they checked the bundles of the newly-arrived notes, finding out that all notes of Rs1000 denomination were one-side blank.
In a statement, a spokesman for the central bank said the matter was referred to the department concerned.
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Last year in Dec, the Senate Standing Committee on Finance voiced concern over the alarming circulation of Rs5000 notes, which even officials of State Bank of Pakistan (SBP) failed to ‘recognise’.
While spotlighting the gravity of the issue, PPP Senator Salim Mandviwala – who chaired the standing committee’s meeting – tabled a bundle of counterfeit Rs5000 notes and said even parliamentarians are not immune to the fraud.
During the meeting, the Senator asked State Bank of Pakistan’s (SBP) Deputy Governor Dr Inayat Hussain to recognise the fake Rs5000 notes, but the latter ‘failed’.
The committee chairman demanded swift and decisive action from the central bank to curb the widespread circulation of fake notes. Saleem Mandviwalla suggested that that fake notes are entering circulation through banks.
SBP deputy governor further said that there is currently no system in place to prevent the printing of fake currency within the country.